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Aug 02

TECHNICAL ANALYSIS BY NSFX 02.08.2015

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EurUsd last Friday made a bearish candle and might test the dynamic trendline that links higher lows generated last March. Below this support the rate might drop to 1.0463, the multiyear low, and then test the parity. A rally of the pair can find significant resistance against the 200SMA, now at 1.1250 area. Above this level EurUsd might reach its 5 month high at 1.1470 and a breakout of this level can lift the rate to 1.18.

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